Retirement Systems of Alabama Acquires 863 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Retirement Systems of Alabama grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,448 shares of the real estate investment trust’s stock after acquiring an additional 863 shares during the period. Retirement Systems of Alabama owned 0.13% of Equity LifeStyle Properties worth $16,467,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Aristotle Capital Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 17.1% during the 3rd quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after buying an additional 1,681,198 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Equity LifeStyle Properties by 87.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,925,036 shares of the real estate investment trust’s stock worth $122,644,000 after buying an additional 896,361 shares during the period. Northern Trust Corp boosted its holdings in shares of Equity LifeStyle Properties by 43.4% during the 3rd quarter. Northern Trust Corp now owns 1,926,497 shares of the real estate investment trust’s stock worth $122,737,000 after buying an additional 583,317 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Equity LifeStyle Properties by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock worth $1,586,981,000 after buying an additional 472,855 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Equity LifeStyle Properties by 108.7% during the 3rd quarter. Rhumbline Advisers now owns 597,164 shares of the real estate investment trust’s stock worth $38,045,000 after buying an additional 310,996 shares during the period. 97.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ELS. Truist Financial cut their target price on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Barclays cut their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price for the company. Finally, Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties presently has an average rating of “Hold” and a consensus price target of $69.55.

Equity LifeStyle Properties Trading Down 0.7 %

Shares of ELS stock opened at $60.31 on Wednesday. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $74.04. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 4.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a fifty day moving average of $64.18 and a 200-day moving average of $67.03.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.477 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.16%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Equity LifeStyle Properties Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.